Learn More Permanent Life Insurance
Get to know permanent life insurance - With various advantages and benefits, life insurance will provide a sense of security and comfort for your future and family.
A safe and secure future is the goal of everyone life. How to get it, of course everyone has their way. Starting from work from a young age and having savings for the future, or also be one of the "future affairs ya later". Which category are you in?
Currently, a lot of people who have life insurance (whole life insurance), because the usefulness and facilities in it designed to be able to provide insurance coverage during the life of the insured. Obviously with the terms of the insured must keep paying regular premium to keep the policy remain active.
To find out a lifetime life insurance policy can be issued as a participating or not participating policy, the following will explain it.
Policy Not Participated
The policyholder will not get a bonus on his policy because the policy is without profit. This type of policy if the insured person dies, the heirs will get basic sum assured with a limited amount.
Policy Participate
This type of policy is very possible when the insurance company can share the profits with the insured after paying additional premiums. This policy is also known as a policy with a profit. So every year the insurance company will enter the soul 'funds' to the account of the policyholder participating in the form of bonuses. The amount of bonus can not be guaranteed with certainty, because it depends on the profit of the insurance company.
For example, when insurance companies and social economic conditions are experiencing profits, the bonus given to the insured will also be large and vice verse if the economy deteriorates then the bonus given is also automatically small. - Get to know permanent life insurance
In addition there are also several types of life insurance policies for life. Common types of policies are:
- Direct Life Policy
Direct or known mental policy (ordinary life policy) IE the insurer will still pay the premium until the insured dies until the age of 90 or 100 years. If the insured is still alive beyond that age limit, the insurer will pay the cash value to the insured and insured insurance protection. Then the policy is due.
- Life Insurance Lifetime Policy Limited Payment (limited-payment whole life policy)
This type of life insurance policy is planned by people who want to have lifelong protection, but do not want to pay a premium for life. Insured parties can pay premiums in a certain period of time, for example until the age of 60 years, but with additional life insurance coverage.
This type of life insurance policy only requires a premium payment within a short period of time when compared to other types of policies.
Life Insurance Life Differences With Term Life Insurance
- Term of Protection
For lifetime life insurance provides the insured lifelong life insurance until the age of 100 years, by accumulating the cash value of the policyholder.
Again with term life insurance will only provide protection with a predetermined period of time such as 5, 20, to 50 years, with affordable costs that suit your needs.
- Basic Objectives
The purpose of early life insurance purchases is usually to accumulate cash value that can be used for emergency needs, such as education funding, retirement savings, etc. during an emergency.
For the purpose of life insurance, it is more to protect the family from financial problems when the breadwinner in the family has died.
- Each Excellence
The main advantage in life insurance is the premium will not increase, although the age of the insured continues to grow, and free from employment and retirement plans
As for life insurance has a winning mill that is no health check when the insured party filed a policy and also free from employment or pension plans. - Get to know permanent life insurance
